Fund Overview
The Saltbush Amalg Fund is a low beta (equity based) market neutral capability with an absolute return focus. The Fund’s objective is to deliver absolute returns of 12-15% pa regardless of market direction. The Manager’s risk management framework is structured to deliver low volatility returns with lower net exposures to the equity market.Investment Performance
All figures from 12th Jan 2004 (Saltbush Amalg Inception). See full Monthly Report (requires Adobe Acrobat) Investment Managers
Brett McKeown
Brett is highly respected in the Australian market with a long history of building strong broker relationships and proven performance as an Institutional trader prior to setting up Amalg Capital Management in 2003. He spent 18 years with the AMP group, including Head of Trading from 1995 to 2003. In that role he was responsible for:
- All Australian equity and derivative trading
- The co-ordination of corporate and underwriting deals
- The introduction of full electronic trading portfolio and risk systems; and
- The successful management of AMP's short term equity trading fund.
This level of market experience combined with his strong trading background, provides him with the skills required to successfully manage an absolute return fund. As Portfolio manager Brett's key functions are:
- Portfolio construction and implementation
- Stock research and
- Risk analysis
Brett holds a Bachelor of Commerce Degree with a double major in Economics and Marketing.
Chris Exall
Prior to joining Amalg, Chris had 8 years experience in the finance sector. His most recent experience was as Quantitative Analyst for ABN AMRO Australia from 2002 until mid 2005. Chris was involved the development of quantitative research models and factor testing; as well as product marketing to domestic institutional equity clients. As Quantitative Manager Chris' responsibilities include:
- Quantitative modeling
- Portfolio Optimisation
- System Development
- Risk Analysis
Chris holds a Bachelor of Science (Business Information Technology) and a Graduate Diploma in Applied Finance and Investment.
Summary of the Fund's key characteristics are detailed below
Investment Manager |
Amalg Capital Management Pty Ltd |
Launch Date |
12th January 2004 |
Fund Size |
Current FUM A$26m (Strategy FUM A$85m) |
Market Exposure |
Gross limit 200%, Net average range +/- 20% |
Prime Broker |
UBS AG Australia Branch |
Custodian |
UBS Nominees Ltd |
Administration |
White Outsourcing Pty Ltd |
Income Distribution |
Yearly |
Minimum Investment |
A$100,000 for wholesale investors |
Applications/Redemptions |
Monthly |
Entry/Exit Fees |
Nil |
Management Fee |
1.25%pa |
Performance Fee |
20%pa with high water mark |